Ethiopia welcoming foreign investors to the Banking sector on the coming 5 years
Ethiopia welcoming foreign investors to the Banking sector, Ethiopian government is going to grant license to three to five foreign investors who want to work in the Banking sector in the coming five years. Said the National Bank deputy governor Solomon Sadha.This permit will allow the foreign Banks to buy shares from local Banks and also to be able to open their branches and perform.
Ethiopia welcoming foreign investors would be beneficial in many ways
This new approach is believed to bring a lot of motivation and growth through the country’s economy, this is because of the awakening bell that the presence of the competitors would ring to all of the companies involved in the sector which would be beneficial both for the service providers (local and foreigners) and for the customers.
After Prime Minister Abiy Ahmed came to power, It has been seen that plenty of foreign investors in different sectors have shown interest in Ethiopia, especially in the banking, telecom, transportation, and aviation sectors.
The prime Minister has promised the opening of this economy leading sectors to new chives and friends investment. Ethiopia welcoming foreign investors ,the opening of this enlighten road of the given promise has shown its implication proof when the first foreign telecom company Granted its license to work in the country, the auction for the second foreign (the Third telecom company for the country) which will take 45 present of the sector, which is owned by the state governed telecom company (Ethio telecom) is now out.
With this beginning, it’s now officially expected that a minimum of three to five efficient foreign investors will join the Ethiopian banking sector.